Rhumbline Advisers lifted its position in Culp, Inc. (NYSE:CULP) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,218 shares of the textile maker’s stock after buying an additional 2,831 shares during the period. Rhumbline Advisers owned about 0.17% of Culp worth $289,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. US Bancorp DE grew its stake in Culp by 101.4% in the fourth quarter. US Bancorp DE now owns 2,441 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 1,229 shares during the period. State Street Corp lifted its holdings in shares of Culp by 1.0% during the 3rd quarter. State Street Corp now owns 220,871 shares of the textile maker’s stock valued at $3,600,000 after purchasing an additional 2,261 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Culp by 12.9% in the 4th quarter. Russell Investments Group Ltd. now owns 23,659 shares of the textile maker’s stock valued at $320,000 after purchasing an additional 2,700 shares during the period. Barclays PLC grew its position in shares of Culp by 88.3% in the 3rd quarter. Barclays PLC now owns 13,813 shares of the textile maker’s stock valued at $226,000 after purchasing an additional 6,478 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Culp during the 3rd quarter worth approximately $171,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on CULP shares. Zacks Investment Research raised shares of Culp from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of Culp from $11.00 to $9.50 and set a “hold” rating for the company in a research report on Friday. Finally, ValuEngine lowered shares of Culp from a “buy” rating to a “hold” rating in a report on Thursday, February 20th.
Shares of NYSE:CULP traded down $0.03 during mid-day trading on Monday, reaching $8.05. 1,722 shares of the stock were exchanged, compared to its average volume of 65,677. The company has a quick ratio of 1.84, a current ratio of 3.19 and a debt-to-equity ratio of 0.03. The company has a market cap of $107.36 million, a P/E ratio of 42.68 and a beta of 0.80. Culp, Inc. has a one year low of $7.80 and a one year high of $21.08. The stock’s 50 day simple moving average is $11.55 and its 200-day simple moving average is $14.28.
Culp (NYSE:CULP) last released its quarterly earnings results on Thursday, December 5th. The textile maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $72.62 million during the quarter, compared to the consensus estimate of $77.33 million. Culp had a return on equity of 4.98% and a net margin of 0.78%. Analysts anticipate that Culp, Inc. will post 0.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, April 7th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Monday, April 6th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 5.22%. Culp’s dividend payout ratio (DPR) is presently 102.44%.
Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.
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